What Does Homeowners Insurance Cover?

Homeowners insurance is a type of coverage that protects your property financially should fire, theft, accident, or other disaster occur. Most homeowners insurance policies include protection for liability, living expenses, personal belongings, and structural damage to a home. Whether you’re required to obtain homeowners insurance due to HOA requirements or simply want superior protection and peace of mind, make sure that you understand what the coverage does and does not cover.

Structural Damage

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If your home sustains damage caused by disaster, vandalism, or theft, your homeowners insurance kicks in to pay the costs of those damages. The policy that you have may cover all or a portion of the costs of repairing a damaged structure or the costs to rebuild. Your home is covered under the policy, as well as structures on the property that are separate from the home, like your vehicle and garage.

Personal Belongings Coverage

If your personal belongings are stolen, damaged, or otherwise destroyed by natural disaster or theft/vandalism, you can file a claim with your homeowners insurance east providence to recoup damages. Most policies cover items such as clothing, TVs, furniture, electronics, and appliances. Homeowners insurance agencies pay out for personal belongings at a percentage of the home’s overall value.

Liability Protection

You can be sued if a person is injured or sustains damage while on your property or due to your negligent behaviors. Liability protection provides money to pay any awards the court offers to the victims. No-fault medical insurance is included in the protection, which covers the costs of injuries caused to visitors at your home.

Most homeowners insurance policies do not include coverage for wear and tear or flood/earthquake protection or leaks. However, it covers a fair amount of damage that your home could sustain in the blink of an eye. It pays to have a homeowners insurance policy in place!